Search results

This study aims to comparatively analyze the systematic, idiosyncratic and downside risk exposure of both Islamic and conventional funds in Pakistan to see which of the funds has higher risk exposure.

The study analyzes different types of risks involved in both Islamic and conventional funds for the period from 2009 to 2016 by using different risk measures. For systematic and idiosyncratic risk single factor CAPM and multifactor models such as Fama French three factors model and Carhart four factors model are used. For downside risk analysis different measures such as downside beta, relative beta, value at risk and expected short fall are used.

The study finds that Islamic funds have lower risk exposure (including total, systematic, idiosyncratic and downside risk) compared with their conventional counterparts in most of the sample years, and hence, making them appear more attractive for investment especially for Sharīʿah-compliant investors preferring low risk preferences.

As this study shows, Islamic mutual funds exhibit lower risk exposure than their conventional counterparts so investors with lower risk preferences can invest in these kinds of funds. In this way, this research provides the input to the individual investors (especially Sharīʿah-compliant investors who want to avoid interest based investment) to help them with their investment decisions as they can make a more diversified portfolio by considering Islamic funds as a mean for reducing the risk exposure.

To the best of the author’s knowledge, this study is the first attempt at world level in looking at the comparative risk analysis of various types of the risks as follows: systematic, idiosyncratic and downside risk, for both Islamic and conventional funds, and thus, provides significant contribution in the literature of mutual funds.

This study aims to analyze the impact of different governance characteristics on the ratings of both Islamic and conventional mutual funds.

This study used panel data ordered probit regression model. Furthermore, to capture the mutual funds rating persistence effect and address the issue of endogeneity dynamic panel model is used and the results are estimated using the generalized method of the moment (GMM) technique.

The results indicated that amongst the corporate governance characteristics, board size, the board independence, directors and institutional ownership, and overall governance quality positively affect the ratings of both Islamic and conventional funds. However, chief executive officer (CEO) duality and board gender diversity did not show a significant impact on the ratings of these funds.

The current research provides input to the asset management firms as to how they can increase the fund ratings by implementing strong governance practises. Furthermore, the study also provides input to the rating agencies to account for governance characteristics along with financial indicators, when issuing the rating of any fund.

To the best of the author’s knowledge, this study is the first attempt to analyze the impact of corporate governance characteristics on the rating of both Islamic and conventional mutual funds and hence provides a significant contribution to the literature.

This study aims to analyze the impact of corporate governance characteristics on the risk exposure of Islamic mutual funds prevailing in different Islamic countries (Pakistan and Malaysia).

This study used dynamic panel regression model for analysis and estimated the results using system generalized method of moment technique. A sample of 185 Islamic funds is used in the current research, which is selected using judgmental sampling. The data span of this study consists nine years from 2009 to 2017.

The results showed that the corporate governance characteristics such as board independence, directors and institutional ownership and overall governance quality are helpful in reducing the total and downside risk exposure of Islamic mutual funds. The findings also suggest that board size and Chief Extractive officer duality play no role in mitigating the risk of Islamic funds prevailing in both countries.

This study has implication for industry practitioners and fund managers. This study showed that the corporate governance characteristics are helpful in reducing the risk exposure of Islamic mutual funds. Therefore, this study provides input to the investment firms to improve the quality of corporate governance for lowering the risk exposure of mutual funds.

To the best of the authors’ knowledge, this study is the first attempt to analyze the impact of corporate governance characteristics on the risk exposure of Islamic mutual funds and hence provides significant contribution in the literature of mutual funds.

This study attempts to recognize the effects of the Pakistan–China free trade agreements (PCFTA) on promoting trade between the two economies.

Following the concept of revealed comparative advantage (RCA) and free trade agreements, the study first identifies those commodities in which Pakistan and China have a robust RCA and then analyze the effect of PCFTA on the export value of those commodities for the bilateral trade between Pakistan and China. The study used the panel data in which more than the top 150 importers (j) have been selected for each case of Pakistan and China for the period of 2003–2015.

The study concludes that even with the higher convergence rate, the good RCA does not guarantee a positive effect of the free trade agreement on the commodities.

The study contributes to the existing literature by integrating RCA with the gravity model by adopting a sequential mode for Pakistan–China free trade agreement.

This study aims to identify and explore the factors affecting social entrepreneurial intentions considering an educational institution in Portugal. It also intends to determine the relevance of moderating factors in the antecedents and entrepreneurial intention of these students.

A panel of 177 undergraduate students enrolled in a social entrepreneurship course between the academic years 2018 and 2021 is considered. The data is explored quantitatively considering descriptive analysis techniques, correlational analysis and hypothesis testing.

The findings reveal that entrepreneurial intention depends on multiple individual, organizational and contextual dimensions. Students' entrepreneurial intention remains unchanged regardless of the student’s profile. However, students' professional experience is a more relevant factor for the identification of organizational dimensions related to curriculum and critical pedagogy, while previous involvement in volunteer activities contributes to a higher prevalence of individual factors.

To the best of the authors’ knowledge, this study is original in exploring the role of entrepreneurial intention and its antecedents considering a heterogeneous students' profile. It offers theoretical and practical contributions by extending the literature on social entrepreneurial intention that can be used by higher education institutions to offer specific training more focused on the student's profile.

The primary purpose of this study is to integrate the stimulus-organism-behavior-accomplishment (S-O-B-A) paradigm to investigate the chain effect of university students' perceived university and family support on their entrepreneurial action (EA) with a serial mediation of their attitude and intention.

This study introduces stratified random sample to choose respondents and a cross-sectional research design. partial least square-structural equation modeling (PLS-SEM) has applied to thoroughly investigate the behavioral intention concerned with students' entrepreneurship action.

The findings explored that perceived university support and family supports positively impact students' entrepreneurship attitude, where perceived family support creates statistically more powerful implications than university support. Students' attitude toward entrepreneurship positively affects their entrepreneurial intent, and finally, the entrepreneurial pursuit has an affirmative impact on students' EA.

This study incorporates the S-O-B-A paradigm for the very first time to investigate the effects of students' environmental support on their EA with double mediation by their attitude and intention.

In response to the dynamic demands of the contemporary business landscape, this study critically examines the pivotal role of ethical leadership in shaping employee’s innovative behavior within organizations. Our research delves into the nuanced interplay between ethical leadership, psychological well-being and innovative work behavior. Drawing from the principles of social exchange theory, our study addresses a critical gap in the literature by exploring the mediating role of psychological well-being in the relationship between ethical leadership and employees' innovative work behavior.

In this quantitative research, data were collected from 384 employees and their direct supervisors in Pakistan’s IT sector using “Google Forms” through a convenience sampling method facilitated by the “LinkedIn” platform. Additionally, the study applied a two-stage structural equation modeling approach, first to assess the uni-dimensionality, and subsequently, to evaluate the proposed hypotheses.

The research results unveiled a robust and positive impact of ethical leadership on innovative work behavior, operating through both direct and indirect pathways mediated by psychological well-being. Intriguingly, the moderating role of perceived organizational support adds depth to our understanding, revealing nuanced conditions under which ethical leadership influences employees' well-being and, subsequently, their innovative contributions.

Beyond theoretical contributions, our study provides practical insights for managers seeking to leverage employees' innovative work behavior for organizational success. By emphasizing ethical leadership as a catalyst, we advocate for its integration into HRM practices. However, recognizing the contextual nature of organizational support, our findings underscore the importance of adaptable leadership strategies to maximize positive outcomes.

Grounded in the principles of social exchange theory, this research marks a pioneering effort to shed light on the link between ethical leadership and innovative work behavior through the mediation of psychological well-being. Additionally, this study makes a valuable contribution to the current body of knowledge by investigating the contingent influence of perceived organizational support on the relationship between ethical leadership and employees' psychological well-being.

In today’s business landscape, drawing upon the critical role of environmental sustainability, this study investigates the intricate relationship between green human resource management practices (GHRMP), big data analytics capability (BDAC), green competitive advantage (GCA) and environmental performance (EP), further moderated by managerial environmental concern (MEC).

This study employs a quantitative approach using the latest version of SmartPLS 4 version 4.0.9.6 on a data sample of 467 participants representing a diverse range of manufacturing SMEs. Data were collected from managers and directors using a structured questionnaire and analyzed using structural equation modeling (SEM). This study contributes to the existing knowledge by integrating GHRMP and BDAC within the GCA framework, providing a comprehensive understanding of how these practices enhance SME`s sustainability.

The findings provide valuable insights into the manufacturing sector, aiming to enhance SMEs' green competitive advantage. Implementing GHRMP fosters environmental awareness within the workforce, and building BDAC allows for effectively translating that GHRMP into actionable insights, maximizing the potential for achieving GCA. Furthermore, recognizing MEC’s moderating role strengthens positive environmental outcomes associated with GCA. The findings confirm that GHRMP and BDAC are valuable resources and key drivers contributing to competitive advantage in sustainability of enterprises.

For SMEs, our findings suggest that strategically integrating GHRMP with BDAC not only boosts environmental stewardship but also improves operational efficiency and market positioning. This research outlines actionable steps for SMEs aiming to achieve sustainability targets while enhancing profitability. This research provides actionable insights for SMEs in strategic decision-making and policy formulation, aiding SMEs in navigating the complexities of sustainable development effectively.

This study contributes to the existing knowledge by integrating GHRMP and BDAC within the GCA framework, providing a robust theoretical explanation of how HRM practices and BDAC help SMEs gain green competitiveness. The implication of this study reveals that SMEs implementing and integrating green HRM practices with advanced data analytics are more likely to gain competitive advantage. This study draws theoretical support from the resource-based view (RBV) theory, positing that a firm’s sustainable competitive advantage stems from its unique and valuable resources and capabilities that are difficult for competitors to imitate or substitute.

This study aims to explore how corporate social responsibility (CSR) dimensions (i.e. economic; legal; ethical; philanthropic) foster employee creativity during the COVID-19 pandemic. Specifically, an attempt is made to investigate the mediating role of affective commitment to explain the above linkage.

The survey data were collected from 167 employees in the emerging market of Saudi Arabia. The data was analysed using PLS-SEM for frequency, reliability, confirmatory factor analyses and structural equation modelling.

The CSR dimensions, particularly the ethical and philanthropic dimensions, showed both direct and indirect effects on the creativity behaviour of employees during the COVID-19 pandemic. Moreover, affective commitment mediated the relationship between the legal, ethical and philanthropic CSR dimensions and creativity behaviour.

This study enriches previous CSR empirical research and adds to current literature focused on the determinants of CSR dimensions' effectiveness; particularly, the research is set in a challenging scenario characterized by the pandemic. So, this paper extends previous studies by investigating under which key conditions CSR dimensions are most effective, in particular in two main directions. First, it contributes to the CSR literature by determining how various CSR dimensions influence creativity behaviour during a pandemic. Pandemics are events that occur regularly, and the COVID-19 pandemic, in particular, offers the opportunity to explore its effects on employees' behaviours in the current context. Second, the study's mediation findings contribute to new empirical evidence which suggests that affective commitment has a positive effect on the CSR dimensions of employee creativity behaviour during a pandemic in an emerging market.